Sandestin Golf and Beach Resort to be Purchased by The Becnel Family of Destin

February 9, 2010 By Leave a Comment

The rumors of Interwest selling its interests in Sandestin Golf and Beach resort has been swirling for the past 12 months. Many suitors had come to the table to purchase the world renowned destination San Destin, but only one made to a final agreement.

In a deal that will not be finalized until March 2010, Becnel is excited about the opportunity in front of him. "This has been a very long process," he said discussing the months of trade-offs. "We actually started concessions last October.”

Intrawest originally bought Sandestin in July 1998 from Malaysia-based Sime Darby Berhad for $130 million. Parties involved in the latest sale were tightlipped on the final price tag.

Intrawest Announces a Definitive Purchase Agreement for Sandestin Golf and Beach Resort in Florida

Top Florida Destination Committed to Continuing Excellent Guest Service and Experiences

VANCOUVER, B.C – February 9, 2010 – Intrawest announced a definitive purchase agreement to sell its interests in Sandestin Golf and Beach Resort to the Becnel family of Destin, Florida. Specific terms of the agreement were not disclosed and the transaction is anticipated to close in the first quarter of 2010.

The purchase agreement also includes the management contracts for Cottage Rental Agency, a community of beach homes located in Seaside, Florida, and two hotel properties: The Marriott Residence Inn and The Marriott Courtyard, both located at Sandestin.

Once the deal is finalized Intrawest and the Becnel family are committed to work together to ensure a smooth transition of ownership. Sandestin Golf and Beach Resort, Cottage Rental Agency and the Marriott hotels will continue to operate "business as usual" and the resort management teams will continue their commitment to delivering excellent guest service and experiences.

About The Becnel Family

The Becnel family develops and operates resorts, luxury condominiums, town homes and villas in Destin, Florida. The group is a family run business led by Tom and Damon Becnel, who have previously developed Silver Shells Resort, the Palms of Destin and One Beach Club Drive in Sandestin, Florida.

Filed Under: Blog, Sandestin Luxury Home News and Updates Tagged With: , , ,

Destin Once Again Voted as a Top Destin-ation for 4th of July

July 8, 2009 By Leave a Comment

Destin at NightMore great news for the beautiful Emerald Coast. Destin has once again proven itself to be a world-class vacation destination spot by landing a spot on Priceline.com’s 6th annual list of the “Top 50 4th of July Weekend Travel Destinations.”

PricelinePriceline.com compiled data from more than 30,000 hotel reservations, found Destin to be the 38th most-booked location for the holiday, ranking it ahead of Orlando, San Francisco and Savannah.

Destin was one of the smallest destinations on the list, which is mainly composed of large, internationally known cities such as New Orleans (no. 1), Las Vegas (no. 2), Chicago (no. 3), New York City, Seattle, Montreal, London and others. Washington, D.C. was predictably in the top ten, however, it landed a surprisingly low 9th spot.

Northwest Florida is becoming a vacation destination powerhouse. I hope to see Panama City Beach on this list in the next few years with the increased exposure of Pier Park and new International Airport.

The Priceline Top 50 Destinations List for July 4, 2009:

1 New Orleans, Downtown/Convention Center

2 Las Vegas, Strip Vicinity South

3 Chicago, Millennium Park/Loop/Grant Park Area

4 New York City, Times Square/Theater District

5 Seattle, Downtown/Pike Place

6 San Diego, Coastal Area

7 Chicago, North Michigan Avenue/River North Area

8 New Orleans, French Quarter

9 Washington, DC, White House/Downtown

10 Boston, Copley Square/Theater District

11 Montreal

12 San Francisco, Union Square West/Nob Hill

13 San Diego, Downtown & Harbor Island

14 San Diego, Point Loma/Shelter Island/Old Town

15 Las Vegas, Strip Vicinity North

16 St. Catharines, Niagara Falls

17 San Antonio, Downtown/Riverwalk

18 Orange County, Disneyland Area

19 Boston, Harbor Front/Aquarium

20 Orlando, Universal Studios/Sea World Area

21 Newport (RI), Goat Island/Newport & Newport Beach

22 Vancouver, Downtown

23 New York City, Empire State Building Area

24 Philadelphia, Downtown

25 Virginia Beach

26 New York City, Midtown East

27 Monterey, Monterey/Pacific Grove

28 Oahu, Waikiki Marina Area

29 Boston, Quincy Market/Faneuil Hall/Financial District

30 Oahu, Waikiki Beach Area

31 Myrtle Beach

32 Hilton Head Island

33 Buffalo, Niagara Falls/Buffalo/Amherst

34 Newark, Meadowlands/Jersey City

35 Washington, DC, Convention Center/Capitol Hill Area

36 Toronto, Downtown

37 Portland, Downtown

38 Destin, FL

39 Savannah, Historic District

40 Orlando, Disney World Vicinity

41 San Francisco, Union Square East

42 London, Mayfair/Soho

43 San Diego, Coronado

44 Miami, Miami Beach

45 Charleston, SC, Downtown

46 Chicago, Lincoln Park

47 Ocean City, MD

48 Monterey, Carmel/Carmel Valley

49 Atlantic City, Atlantic City/Cape May

50 New York City, Midtown West

Filed Under: Destin Luxury Home News and Updates Tagged With: ,

Research: This Month in Real Estate, May 2009

June 1, 2009 By Leave a Comment

Every month Keller Williams performs an in-depth analysis of the Real Estate Market. May 2009 was a critical month in Real Estate especially with home prices falling to 2003 level and the first signs of the market bottom are in play. This presentation looks at the National Real Estate Market. If you are interested in our South Walton market or specific areas including Grayton Beach, Seagrove Beach, Destin, Sandestin, Rosemary Beach, WaterColor or WaterSound, please call or email Craig or Tracy @ Team Baranowski 850.259.1788 or 850.259.4270.

Housing Market Offers Opportunities, Glimmers of Hope

Buying opportunities abound for value-savvy home shoppers in select markets across the nation, where prices have fallen to 2003 levels.  While home prices are still declining on a year over year basis, they are falling at the slowest rate in five months, which indicates a degree of stabilization compared to recent months.

Attractive prices, coupled with strong affordability and mortgage rates below 5%, translate to more buying power for home buyers. Buoyed by the $8,000 federal tax incentive, first-time buyers represented the majority of transactions closed last month. Their activity is expected to remain high and reduce the glut of homes on the market.

According to Charles McMillan, “Compared to a year ago, the typical family can pay much less in mortgage costs for the same home, or buy a better home without necessarily increasing their monthly payment. For buyers who’ve been on the sidelines and have good jobs, the market has never looked more favorable. Home ownership has always offered immediate benefits and long-term value, but the advantages in today’s market are unique.”

Another positive factor is the return of the jumbo loan. For nearly a year, it has been almost impossible for buyers to find financing for homes selling for more than $417,000. Bank of America recently began offering a 30-year fixed rate jumbo at less than 6 percent. Other banks are starting to follow suit.

Home sales and other consumer spending data combined with big earnings at some banks indicate that the U.S. economy is on the road to a gradual recovery this year. “The economy is still very weak, but there are some encouraging signs that support cautious optimism,” said Dennis Lockhart, president of the Federal Reserve Bank of Atlanta.

Click here to download complete report: This Month in Real Estate, May 2009

If you are considering buying or selling a luxury beach home, put the Team Baranowski advantage to work for you. If you have questions, our team is always available – 850.259.1788 or 850.259.4270. If you are interested in distressed property including short sales and foreclosures click here.

Filed Under: Research - This Month In Real Estate Tagged With: , , , , ,